I think they all do. Including your Scott trade broker. You have to call them and ask tell them that you want 4X margin. But keep in mind that they charge you interest on that money you are borrowing. I couldn't find anything on their website. But I am pretty sure they give you 4 to 1. So for 25K, you get 100k. But if you have below 25K in your account then you only get 2 to 1. I think.
Making $5K with $20K each month
- Thread starter PennyTrader
- Start date
I think they all do. Including your Scott trade broker. You have to call them and ask tell them that you want 4X margin. But keep in mind that they charge you interest on that money you are borrowing. I couldn't find anything on their website. But I am pretty sure they give you 4 to 1. So for 25K, you get 100k. But if you have below 25K in your account then you only get 2 to 1. I think.
What broker do you use that gives you 4X margin?
Thanks BTW for the response to my ? .
Thanks BTW for the response to my ? .
I don't trade stocks. Maybe somebody else does on here.
More info on the 4X margin is here.
http://www.nasd.com/InvestorInformation/MarketsTrading/DayTradingInformation/NASDW_005906
The process helps him as a trader, confirms (through actually doing it) a process which he thinks is correct, bolsters his psychology and provides a bedrock of confidence to move forward with his trading.
Your stupid games just prove you're a complete tool and obviously don't have much else to do with yourself than talk shit to someone who (apparently) is a better trader.
Jimmy Jam
For some reason I've a hard time to access ET today, always gave me errors.
Our tax payments were sent to IRS and the state on Tuesday night with two empty checks (for a total of $9000 Federal and state). My wife was worried IRS would deposit the check immediatly. I wired out the tax amount from my account to our checking yesterday afternoon. Thanks for the good trades I made for the past couple days, I can finally pay the tax due. Now the reality is here. My account only has $19000 left, the psychological pressure is now on me, I can feel it :-(
I cannot trade today. I've to wait and wire the rest of money out to a new broker. The commission will be higher because they gave me 4 x buying power even with less than $25K. They're not a member of NASD, so they're not subject to the DBP rules set by NASD. Maybe I could trade tomorrow when the $ is in.
Good luck to everyone else!
Our tax payments were sent to IRS and the state on Tuesday night with two empty checks (for a total of $9000 Federal and state). My wife was worried IRS would deposit the check immediatly. I wired out the tax amount from my account to our checking yesterday afternoon. Thanks for the good trades I made for the past couple days, I can finally pay the tax due. Now the reality is here. My account only has $19000 left, the psychological pressure is now on me, I can feel it :-(
I cannot trade today. I've to wait and wire the rest of money out to a new broker. The commission will be higher because they gave me 4 x buying power even with less than $25K. They're not a member of NASD, so they're not subject to the DBP rules set by NASD. Maybe I could trade tomorrow when the $ is in.
Good luck to everyone else!
If I can trade today and tomorrow, I would trade GOOG - pre-after earnings.
good move in NOT trading. well, if you have some of the same mental block as me.
i had my backup account start at 5k, and work up from there. but what would happen, once i hit mid teens - i'd see a position go my way, but not want to do my traditional exit because i was afraid of triggering the PDT rule. then, it would bounce hard, either giving me less profit when i exited the next day, or stopping me out at break-even.
finally, i just said screw this - and put a little bit of money in to go above 25k. when we closed on our current house, there was the same problem, but i didn't have money to put in, so i had to wait til we closed on our 'old' house so i could get the account back over 25k. a bit frustrating..
i had my backup account start at 5k, and work up from there. but what would happen, once i hit mid teens - i'd see a position go my way, but not want to do my traditional exit because i was afraid of triggering the PDT rule. then, it would bounce hard, either giving me less profit when i exited the next day, or stopping me out at break-even.
finally, i just said screw this - and put a little bit of money in to go above 25k. when we closed on our current house, there was the same problem, but i didn't have money to put in, so i had to wait til we closed on our 'old' house so i could get the account back over 25k. a bit frustrating..
Here is a trading opportunity, ascending triangle... ISIL..
Certainly frustrating right? That's part of our life - sort of like running a small risky business, low on working capital.
I think I'll trade even less with the new broker because of higher commissions. Again, I've to be goal-oriented. If I made my daily goal in the 1st hour, stop trading for the day. Restrict the temptation of overtrading during the long dull day - especially the lunch hours.
You could switch to my new broker too, at least you can relief this DBP pressure, trade freely without worrying the $25K.
Sorry about the previous post - the chart takes a lot of window, my monitor is too big
..
I think I'll trade even less with the new broker because of higher commissions. Again, I've to be goal-oriented. If I made my daily goal in the 1st hour, stop trading for the day. Restrict the temptation of overtrading during the long dull day - especially the lunch hours.
You could switch to my new broker too, at least you can relief this DBP pressure, trade freely without worrying the $25K.
Sorry about the previous post - the chart takes a lot of window, my monitor is too big
..